Danish company, Copenhagen Energy (CE) recently signed incorporation documents with the Philippines’ PetroGreen Energy Corp. (PGEC) for laying the groundwork for offshore wind power in the Philippines.
According to Business World, both companies plan to form separate special purpose vehicles (SPVs) to oversee the investment and development of three offshore wind projects including the Buhawind Energy Northern Luzon, the Buha Wind Energy Northern Mindoro, and Buhawind Energy East Panay.
The three projects are expected to generate a total capacity of 4GW of clean and indigenous power.
“This investment and joint venture […] testifies to Denmark’s strong belief in the potential of offshore wind in the Philippines and to our support for President Marcos Jr.’s high priority on renewable energy to increase power supply and to reduce carbon emissions in the country,” said the Danish Ambassador designated to Vietnam Franz-Michael Mellbin in a statement.
Copenhagen Energy is a Danish energy trader and developer of solar, onshore and offshore wind projects across Denmark, Australia, Ireland, Italy, and the Philippines.